"Cannabis industry insiders are bracing for a slew of bankruptcies in the coming year as small and medium-sized companies low on cash struggle to raise funds in the downtrodden sector. 'We have had a busy few years, but next year we're going to be busy for a different reason - we expect a few million dollars in legal fees from insolvencies and consolidations,' said Ranjee Dhillon, a partner at McCarthy Tetrault LLP and the firm's cannabis group lead.

Suppose that the Association for Fair Prices for Pot Producers, the FPPP, convince the government that the Pot Price should be set at a "FLOOR" of $12.50.

• At this Price Floor, determine each of the Quantity demanded, Q_d and the Quantity supplied, Q_s from the information provided in question 2 above.

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